The province is giving drivers the power to help design an auto insurance rating system for B.C.
Public engagement is open until Apr. 5 to provide feedback on how to determine basic insurance premiums, giving more discounts to low-risk drivers and balance insurance to reflect an increased risk of driver behaviour and location.
In a public engagement launch video, Attorney General David Eby said car insurance rates in the province are not fair.
“Low-risk drivers with perfect records are paying more than they should. Meanwhile, high-risk drivers who are driving costs up for everyone aren’t paying enough.”
Eby says ICBC is on pace to lose $1.3 billion this year.
The government announced changes last month to reduce costs through claims by $1 billion annually, including a cap on minor injury claims at $5,500 starting on April 1, 2019.
On March 1, ICBC’s Driver Risk Premium program (DRP) increased penalties for drivers using electronic devices while driving.
Two distracted driving convictions over a three-year period could see offenders pay as much as $2,000 in penalties on top of regular insurance premiums.
“We are committed to reducing high-risk behaviours that put people in danger,” Eby said in a release.
“This increased premium cost puts distracted driving on par with impaired driving and excessive speeding. We need distracted drivers to put down their phones and drive.”